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Tata Capital
1.94xsubscribed

Tata Capital

Finance - Others
listed
₹14,260Min. investment

Tata Capital Limited IPO Details

SectorFinance - Others
Price range₹310 – ₹326
IPO type
Regular
Lot size46 shares
Issue size₹15,511Cr
Draft Red Herring Prospectus
Read
Market cap
₹1,38,382CrHigher than sector avg
RevenueApr 2024 - Mar 2025
₹28,312.7CrHigher than sector avg
Growth rate3Y CAGR
46.95%Higher than sector avg

Tata Capital Subscription Status

Date
QIB
NII
Retail
Total
06-Oct-25
0.46 times (X)
0.28 times (X)
0.35 times (X)
0.39 times (X)
07-Oct-25
0.54X
0.75X
0.68X
0.75X
08-Oct-25
1.93X
1.92X
1.08X
1.94X

As on 06-Oct-25, 5:30 PM

Tata Capital Timeline

  1. Pre-apply
    1 Oct 2025
  2. Bid start
    6 Oct 2025
  3. Bid end
    8 Oct 2025
  4. Allotment
    9 Oct 2025
  5. Release of funds
    10 Oct 2025
  6. Demat transfer
    10 Oct 2025
  7. Listing
    13 Oct 2025

About Tata Capital Limited

Tata Capital is one of the largest diversified non-banking financial companies (NBFCs). The company is the flagship financial services company of the Tata Group and a subsidiary of Tata Sons Private Limited. According to the CRISIL report, Tata Capital is the third-largest diversified NBFC in India with total gross loans of ₹2.33 lakh crore as of June 30, 2025. Its total gross loans grew at a CAGR of 37.3% in the last three fiscal years.
The company started lending operations in 2007 and has served about 7.3 million customers as of June 30, 2025, in retail, SME, and corporate segments. Its portfolio includes more than 25 lending products that cover salaried professionals, self-employed persons, small businesses, and large corporations. Loans to retail and SME customers accounted for 87.5% of total gross loans as of June 30, 2025.
The company operates an omni-channel distribution network with 1,516 branches across 27 states and union territories, a partner network of 30,000+ direct selling agents (DSAs), 400 original equipment manufacturers (OEMs), 8,000 dealers, and 60+ digital partners. Its digital platforms continue to build the network with 2.19 crore app downloads and website traffic of 7.58 crore visits in FY25, showing good customer interest.
Retail finance, comprising home loans, car loans, business loans and others, represented 61.3% of gross loans, reflecting the company's emphasis on consumer-driven growth. SME financing provides supply chain finance, equipment finance and leasing solutions and accounted for 26.2% of the total gross loans. Corporate finance accounted for 12.5% of the total gross loans, which primarily comprise term loans, infrastructure finance and developer finance.
Apart from lending, Tata Capital has multiple non-lending verticals like distribution of third-party products such as insurance (0.86 crore in-force policies as of June 2025) and credit cards, wealth management services (₹6,980 crore AUM growing at 26.4% CAGR since FY23), and growth in private equity, healthcare, innovation, and special situation funds. As of June 30, 2025, the firm had more than 250,000 active "Tata corporate cards". The company’s loan book is granular, with more than 98% of accounts of loans having a ticket size of less than ₹1 crore and 80% of the loans being secured, leading to diversification.
In May 2025, Tata Capital finalised the merger with Tata Motors Finance Limited (TMFL), India's top commercial and passenger vehicle finance provider. This merger expanded its reach to an additional 353 branches, deepened its auto-financing portfolio, and made it a full-stack vehicle finance player with scale and diversification across both commercial and passenger segments.
Domestic systematic credit is projected to grow at a CAGR of 13%-15% between FY25 and FY28, and the market share of NBFC is expected to increase to 22% by FY28. India’s retail credit grew at 14% in FY25, supported by steady demand in underlying assets like housing, auto and growth in credit card and personal loans and is expected to grow further at 14-16% between FY25 and FY28. Tata Capital is well-positioned to capture demand as it is among the fastest-growing players with a CAGR of 37.3% in total gross loans between FY23–FY25, and with retail loans being a major contributor, constituting 61.3% of the total gross loans as at June 30 2025.
The company aims to enhance its product portfolio and strengthen its distribution network, and enhance its digital distribution channels, such as mobile apps, its website, and digital partnerships, to broaden its reach and deliver a more seamless and cost-effective customer experience. Additionally, the company’s merger with TMFL will strategically position the combined business as a leading, full-spectrum provider of vehicle finance.
Now, Tata Capital Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹6,846 crore and an offer for sale of ₹8,665.87. The total issue size of the IPO is ₹15,511.87 crore. Its shares will be listed on the NSE and BSE.

Tata Capital IPO Analysis

IPO REVIEW

Tata Capital | Analysis Video

Should you apply?

Watch our analysts break down the Tata Capital IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
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The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Flagship company of Tata Group

The flagship financial services arm of the Tata group, leveraging a 150+ year legacy. The company benefits from its association with more than 70 Group companies and a network of over 950 dealer and vendor partners within the ecosystem.

Third largest diversified NBFC in India

According to the CRISIL Report, the company ranks as the third-largest diversified NBFC in India with total gross loans of ₹2.3 lakh crore as of June 30, 2025, and is considered the most comprehensive among large diversified NBFCs as of March 31, 2025. It provides a broad portfolio of over 25 lending products designed to meet the financial needs of a diverse customer base.

Omni-channel distribution model

As of June 30, 2025, the company had a nationwide presence with 1,516 branches across 1,109 locations in 27 states and Union Territories. This network is further strengthened by over 30,000 DSAs, 400+ OEMs, 8,000+ dealers, and 60+ digital sourcing partners.

Robust credit-writing and collections capabilities

As of June 30, 2025, the company reported one of the lowest Gross Stage 3 loan (2.1%) and Net Stage 3 Loan(1.0%) ratios and the third-highest PCR among large diversified NBFCs in India. Its robust risk management framework addresses credit, operational, market, information security, fraud, and reputational risks, while its strong collection capabilities are driven by a blend of in-house teams, external agencies, and advanced analytical tools.

Digital and analytics approach

The company leverages integrated technology across the customer lifecycle for all lending products in its three business verticals, covering onboarding, underwriting, collections, servicing, and cross-selling. It employs advanced analytics and AI-driven tools for loan recommendations, cross-selling, and personalised digital marketing, supported by 400+ live APIs and 350 RPA processes for operational automation.

Objectives of Tata Capital IPO

Augmentation of capital base
IPO funds will boost Tier-I capital for future needs.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratio
This IPO₹28,312.7Cr46.95%₹3,655Cr₹1,38,382Cr35.04
This sector (avg.)₹789.63Cr0.02%₹117.25Cr₹6,213.48Cr52.32
₹41,701.78Cr---₹9,423.31Cr₹1,91,911.8Cr21.00
₹2,042.91Cr---₹1,612.59Cr₹1,61,687.5Cr100.63
₹20,214.17Cr---₹5,352.36Cr₹1,53,746.4Cr20.96

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Tata Capital Contact Details

Company NameTata Capital Limited

How to apply for Tata Capital?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

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Tata Capital IPO FAQs

Investors can apply for the Tata Capital through their Demat account via the stock exchange or through their broker.
The issue size of the Tata Capital is 15511 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Tata Capital will be open between 2025-10-06 and 2025-10-08.
Tata Capital allotment date is 2025-10-10. For Tata Capital allotment status check, you can visit the website of the registrar of the IPO.
For Tata Capital, the IPO registrar is MUFG Intime India Private Limited. You can check Tata Capital allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Tata Capital shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Tata Capital lot size is 46 and minimum order quantity is 46.
Tata Capital has set the price band for its IPO at 326 per equity share with a face value of 10.